Imdex Ltd · ASX:IMD
Imdex — ASX Small to Mid Caps New York Conference 2011
21 slides from Imdex's conference presentation, Feb 28, 2011
Slide 1: ASX cover letter to Company Announcements Office
For personal use only 28 February 2011 Company Announcements Office ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2001 Dear Sir/Madam ASX Small to Mid Caps New York Please find attached a copy of the presentation being made at the ASX Small to Mid Caps Conference in New York this week. You
Slide 2: Imdex Limited - ASX Small to Mid Caps New York
For personal use only Imdex Limited ASX Small to Mid Caps New York March 2011 Bernie Ridgeway – Managing Director ASX Small to Mid Caps New York - March 2011 1
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by Imdex Limited (“the Company”). It contains general background For personal use only information about the Company’s activities current as at the date of the presentation. It is information given in summary form and does not purport to be complete. Th
Slide 4: Overview
Overview For personal use only • ASX listed industrial company (ASX: IMD), head office in Perth, WA • Global operations – presence in all major mining regions, niche Oil & Gas markets • ~320 people globally (>50% outside Australia) • Markets: • Mining • Oil & Gas • Products: • Drilling Fluids & Chem
Slide 5: Structured to meet client needs
Structured to meet client needs For personal use only Market Minerals Oil & Gas Product Fluids Instruments Fluids Instruments Brand ASX Small to Mid Caps New York - March 2011 4
Slide 6: Mineral customers
Mineral customers For personal use only ASX Small to Mid Caps New York - March 2011 5
Slide 7: Oil & Gas customers
Oil & Gas customers For personal use only ASX Small to Mid Caps New York - March 2011 6
Slide 8: Imdex's competitive advantages
Imdex’s competitive advantages • Well positioned For personal use only • Own our Intellectual Property, do our own research & product development and manufacturing • We have a global presence; sell/rent our products to market • Specialist skill set • Drilling Fluids and Chemicals differentiators • S
Slide 9: Strong financial performance
Strong financial performance For personal use only Key indicator 1H11 1H10 Change Revenue $95.9m $58.4m 64% EBITA (excl non-operational items) $21.2m $7.5m 182% NPAT (excl non-operational items) $12.1m $2.9m 323% Operational cash flow $13.9m $4.6m 202% Gearing (net debt / capital) 18.4% 19.6% - Inte
Slide 10: Record revenue level achieved
Record revenue level achieved 120 For personal use only Revenue * ($m) 100 95.9 Minerals 80.3 80 75.9 72.9 69.1 60 57.9 56.7 58.4 45.9 40 20 O&G 0 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 * excludes other income & discontinued operations ASX Small to Mid Caps New York - March 2011 9
Slide 11: Record EBITA level achieved
Record EBITA level achieved 25 EBITA * For personal use only ($m) 20.7 19.8 20.0 20.0 20 15 13.2 12.2 10.1 10 7.5 5 4.5 0 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 * excludes discontinued operations and non-operational items ASX Small to Mid Caps New York - March 2011 10
Slide 12: Operational achievements
Operational achievements Strong global uptake of Reflex mining down hole instrumentation For personal use only Rental tool fleet numbers reach historic highs in1H11 with new record at end Jan 11 Significant impact globally (DFC & DHI) from regional business model - mining Strategic acquisition of Fl
Slide 13: Minerals Division revenue by region
Africa Minerals Division Americas Revenue * For personal use only 90 Europe ($m) 81.5 Asia Pacific 80 68.4 15% 63.5 64.7 70 61.4 26% 60 54.0 46.4 50 42.6 2% 40.5 40 57% 30 20 10 0 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 NB: Regional structure adopted 1 July 10 – Comparatives have been reconstru
Slide 14: Minerals Division
Minerals Division For personal use only 26% on 2H10 revenue 75% on 1H10 revenue 85% of Imdex Group revenue Record tool fleet numbers achieved. Further records created early 2H11 Strong uptake of Reflex tools with increased market share AMC drilling fluids brand rolled out globally Regional structure
Slide 15: Record mining tool rental fleet
Record mining tool rental fleet For personal use only Tools on Hire Jun 08 Jun 09 Jun 10 Aug 08 Aug 09 Aug 10 Feb 08 Feb 09 Feb 10 Feb 11 Dec 08 Dec 09 Dec 10 Apr 08 Oct 08 Apr 09 Oct 09 Apr 10 Oct 10 Significant growth from April 09 low point Seasonal slowdown over December - highlighted New record
Slide 16: Oil & Gas Division revenue
Oil & Gas Division Revenue * For personal use only 18 ($m) 16.2 16 14.4 14 11.8 11.9 12 11.1 10 9.3 8 7.7 6 3.9 4 3.3 2 0 1H07 2H07 1H08 2H08 1H09 2H09 1H10 2H10 1H11 * excludes other income & discontinued operations ASX Small to Mid Caps New York - March 2011 15
Slide 17: Oil & Gas Division
Oil & Gas Division For personal use only 21% on 2H10 revenue 21% on 1H10 revenue 15% of Imdex Group revenue – drilling delays experienced due to persistent wet weather in eastern Australia Adjusted Flexit path to market strategy from products to services – DHSO (Lime Rock) joint venture, based in Du
Slide 18: On track with strategy
On track with strategy For personal use only Past 1H11 Medium Term End market 2 15% Oil & Gas Minerals 85% Instruments Profit 1 33% Fluids 67% Services Rent / Sell Sales 29% mix 2 Rentals 71% ¹ Based on actual or anticipated EBITA 2 Based on actual or anticipated Revenue ASX Small to Mid Caps New Yo
Slide 19: Key business drivers and outlook
Key business drivers and outlook For personal use only Mineral exploration Strong commodity prices spend Exploration activity levels and spend increasing Client rig utilisation % Current high utilisation levels expected to continue Level of tool rentals New tool records set in 1H11 Already exceeded
Slide 20: Estimated Global Exploration Spend
Estimated Global Exploration Spend (non-ferrous) (US$Bn) 22.5 For personal use only 20.4 20.8 19.0 19.3 18.0 17.1 14.0 13.2 11.4 10.4 7.5 7.7 5.1 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Source: Mckinsey analysis; Metals Economics Group; Boart Longyear Levels expected to
Slide 21: Summary
Summary For personal use only Strong financial results delivered 1H11 record revenue and profit levels 1.75 cents per share fully franked interim dividend Record mining tool rental numbers Strong balance sheet with comfortable gearing Growth initiatives Mud-Data acquisition drives Oil & Gas fluids g
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